Wells Fargo analyst Praneeth Satish upgrades $Enbridge (ENB.US)$ to a hold rating, and adjusts the target price from $35.78 to $41.06.
According to TipRanks data, the analyst has a success rate of 63.0% and a total average return of 8.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Enbridge (ENB.US)$'s main analysts recently are as follows:
The company is perceived to have 'strong momentum' heading into 2025, alongside possible favorable conditions in the natural gas sector.
Enbridge's Q3 earnings emphasized the strength of its varied energy infrastructure portfolio. This not only resulted in robust outcomes, with cash flows per share that met expectations and a slight EBITDA outperformance but also bolstered growth prospects, demonstrating an annual growth capital investment potential of $8B-$9B. Despite a favorable view on the company's dividend yield, the stock is perceived as being 'fairly valued'.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
